Medical Implants Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Medical Implants Market is Segmented by Product (Orthopedic Implants, Cardiovascular Implants, Ophthalmic Implants, Dental implants, Facial implants, and Breast implants, and Other Products), Type of Material (Metallic Biomaterial, Polymers Biomaterial, Natural Biomaterial, and Ceramic Biomaterial), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.

Medical Implants Market Snapshot

Medical Implants Market Bar Graph
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 6.5 %
Medical Implants Market Key Players

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Market Overview

The medical implants market was estimated at USD 89,230 million in 2020, and is expected to witness a CAGR of 6.5% during the forecast period.

With the rising number of COVID-19 cases, many countries found themselves in lockdown and have suspended trade with other countries. They have also implemented travel restrictions, which has led to a decline in medical services. The number of visits to hospitals and clinics for medical purposes decreased, leading to a subsequent decrease in the demand for surgeries and thereby, medical implants. Also, the manufacturers have thus seen a significant decline in their revenue, as compared to the growth rates in the past decade. However, as these restraining factors were only for a short-term basis in 2020, the market is expected to witness notable growth rates post the COVID-19 pandemic.

The major factors contributing to the growth of the medical implants market are the increasing geriatric population, burden of chronic diseases, increasing demand for cosmetic dentistry, and technological advancements in medical implants.

The global population is aging rapidly, owing to reduced birth rates and increasing life expectancy. According to the World Population Ageing 2019 (United Nations, 2019) Report, the world’s elderly population continues to grow at an unprecedented rate. There were about 703 million people aged 65 years or above across the world in 2019. This count of elderly people is projected to double to 1.5 billion by 2050. Worldwide, the percentage of the elderly population aged above 65 years increased from 6% in 1990 to 9% in 2019. This increase in the number of elderly people is found to augment the number of disorders, which subsequently is boostingthe demand for medical implants across the industry. Hence, the rising geriatric population, coupled with the increasing incidence of chronic diseases, is driving the need for medical implants.

Few other factors are playing pivotal roles in accelerating the medical implants market, which include the hike in disposable income among people, technological advancements in the field of implants, availability of better medical facilities, and a growing number of cases involving damaged limbs or organs caused by various accidents.

However, the high cost of medical implants and stringent regulatory policies are expected to restrain the medical implants market for the forecast period.

Scope of the Report

As per the scope of the report, medical implants are devices or tissues that are placed inside or on the surface of the body. Many implants are prosthetics, intended to replace missing body parts. Other implants deliver medication, monitor body functions, or provide support to organs and tissues. The medical implants market is segmented by product (orthopedic implants, cardiovascular implants, ophthalmic implants, dental implants, facial implants, breast implants, and other products), type of material (metallic biomaterial, polymers biomaterial, natural biomaterial, and ceramic biomaterial), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.

By Product
Orthopedic Implants
Hip Orthopaedic Device
Joint Reconstruction
Knee Orthopedic Devices
Spine Orthopedic Devices
Other Products
Cardiovascular Implants
Pacing devices
Stents
Structural Cardiac Implants
Ophthalmic implants
Intraocular lens
Glaucoma Implants
Dental Implants
Facial Implants
Breast Implants
Other Implants
By Type of Material
Metallic Biomaterial
Polymers Biomaterial
Natural Biomaterial
Ceramic Biomaterial
Geography
North America
United States (By Product and By Material)
Canada (By Product and By Material)
Mexico (By Product and By Material)
Europe
Germany (By Product and By Material)
United Kingdom (By Product and By Material)
France (By Product and By Material)
Italy (By Product and By Material)
Spain (By Product and By Material)
Rest of Europe (By Product and By Material)
Asia-Pacific
China (By Product and By Material)
Japan (By Product and By Material)
India (By Product and By Material)
Australia (By Product and By Material)
South Korea (By Product and By Material)
Rest of Asia-Pacific (By Product and By Material)
Middle East and Africa
GCC (By Product and By Material)
South Africa (By Product and By Material)
Rest of Middle East and Africa (By Product and By Material)
South America
Brazil (By Product and By Material)
Argentina (By Product and By Material)
Rest of South America (By Product and By Material)

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Key Market Trends

Orthopedic Implants Segment is Expected to Hold the Largest Market Share in the Medical Implants Market

Orthopedic implants are medical implant devices that are used to replace missing joints or bones or to give support to damaged bones. These devices are manufactured using titanium alloys and stainless steel for strength, while plastic coating acts as artificial cartilage. Internal fixation is a surgery in orthopedics, which involves the implementation of implants, in order to repair the damaged bone. These implants are also intended to treat deformities, stabilize body posture, and restore normal skeletal function.

Furthermore, as the COVID-19 pandemic has burdened the healthcare system, there has been a decrease in the number of orthopedic surgeries being performed, restricting the demand for medical implants. However, post-pandemic, the demand is expected to increase during the forecast period.

Orthopedic implants have thus witnessed a shift from conventional surgical procedures to modern fixation and prosthetic devices. The demand for orthopedic implants has increased significantly, owing to the increase in the geriatric population that increases the risk of osteoporosis, osteoarthritis, and other musculoskeletal disorders.

There are also increased osteoarthritis and rheumatoid arthritis cases that result in elbow pain and disability and lead patients and their doctors to consider elbow joint replacement surgery. About 458,000 Australians have rheumatoid arthritis, based on self-reported data from the Australian Bureau of Statistics (ABS) 2017–18 National Health Survey (NHS). Rheumatoid arthritis represented 13% of all arthritic conditions in 2017–18.

According to the Arthritis Research, UK report on “The State of Musculoskeletal Health 2018”, it is estimated that 17.8 million people live with a musculoskeletal condition in the United Kingdom, which is around 28.9% of the total population. The statistics show that the number of orthopedic surgeries is increasing, which leads to an increase in the demand for orthopedic implants.

Also, the number of people undergoing joint replacement surgeries, such as total hip and knee replacement, has increased steadily and continues to grow due to an increase in the aging population. The rise in the number of osteoporosis-related fractures and musculoskeletal diagnoses is driving the demand for orthopedic implants among the population aged 65 years or above, thus boosting this segment’s growth.

Medical Implants Market Share

North America is Expected to Dominate the Medical Implants Market During the Forecast Period

North America currently dominates the global medical implants market and is expected to follow the same trend throughout the forecast period. This is due several factors, such as the rising incidence of chronic diseases like arthritis in the country, well-established insurance policies, and the availability of advanced healthcare infrastructure.

Amid the COVID-19 crisis, several medical institutions have issued a rule that all non-emergency medical procedures have to be postponed by the healthcare practitioners as patients are at high risk of cross-infection. Therefore, this has affected medical services in the country. The broader economic consequences of COVID-19 may also affect medical implant access. Hence, this may significantly affect market growth.

On the other hand, medical visits have been observed to increase in the United States. According to the Centres for Disease Control and Prevention, in 2017, around 64% of the adult population (between 18 years and 64 years) visited clinics for medical purposes. The increase in medical visits is due to the rising burden of chronic diseases like diabetes, obesity, etc.

The medical implants market in Asia-Pacific is also expected to grow at a high rate in the next few years. This is attributed to the increasing aging population, growing awareness about therapeutic applications of medical implants, increasing prevalence of chronic diseases, increasing disposable income, and developing healthcare infrastructure in the region.

Medical Implants Market Growth Rate By Region

Competitive Landscape

The medical implants market is fragmented and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some of the prominent players are vigorously making acquisitions with the other companies to consolidate their market positions globally. These major companies operating in the global medical implants market include Abbott Laboratories, 3M company, Strauman AG, Dentsply Sirona, Johnson & Johnson Limited, Stryker, and Boston Scientific Corporation, among others. The various product launches and mergers and acquisitions with local as well as established international players are the trends prevalent in the market.

Recent Developments

In July 2020, XencoMedical announced the launch of its CancelleX porous titanium lumbar interbodies, the first injection-molded titanium foam spinal implants pre-attached to disposable, composite polymer instruments. These implants are reported to be the first injection-molded titanium foam implants for spine surgery pre-attached to disposable instruments.

In October 2020, Medtronic announced the US launch of Adaptix Interbody System, a navigated titanium implant with Titan nanoLOCK surface technology, a blend of surface textures on the macro, micro, and nano levels.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Geriatric Population and Burden of Chronic Diseases

      2. 4.2.2 Increasing Demand for Cosmetic Dentistry

      3. 4.2.3 Technological Advancements in the Medical Implants

    3. 4.3 Market Restraints

      1. 4.3.1 Stringent Regulatory Reforms

      2. 4.3.2 Reimbursement Issues and High Cost of Medical Implants

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Orthopedic Implants

        1. 5.1.1.1 Hip Orthopaedic Device

        2. 5.1.1.2 Joint Reconstruction

        3. 5.1.1.3 Knee Orthopedic Devices

        4. 5.1.1.4 Spine Orthopedic Devices

        5. 5.1.1.5 Other Products

      2. 5.1.2 Cardiovascular Implants

        1. 5.1.2.1 Pacing devices

        2. 5.1.2.2 Stents

        3. 5.1.2.3 Structural Cardiac Implants

      3. 5.1.3 Ophthalmic implants

        1. 5.1.3.1 Intraocular lens

        2. 5.1.3.2 Glaucoma Implants

      4. 5.1.4 Dental Implants

      5. 5.1.5 Facial Implants

      6. 5.1.6 Breast Implants

      7. 5.1.7 Other Implants

    2. 5.2 By Type of Material

      1. 5.2.1 Metallic Biomaterial

      2. 5.2.2 Polymers Biomaterial

      3. 5.2.3 Natural Biomaterial

      4. 5.2.4 Ceramic Biomaterial

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States (By Product and By Material)

        2. 5.3.1.2 Canada (By Product and By Material)

        3. 5.3.1.3 Mexico (By Product and By Material)

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany (By Product and By Material)

        2. 5.3.2.2 United Kingdom (By Product and By Material)

        3. 5.3.2.3 France (By Product and By Material)

        4. 5.3.2.4 Italy (By Product and By Material)

        5. 5.3.2.5 Spain (By Product and By Material)

        6. 5.3.2.6 Rest of Europe (By Product and By Material)

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China (By Product and By Material)

        2. 5.3.3.2 Japan (By Product and By Material)

        3. 5.3.3.3 India (By Product and By Material)

        4. 5.3.3.4 Australia (By Product and By Material)

        5. 5.3.3.5 South Korea (By Product and By Material)

        6. 5.3.3.6 Rest of Asia-Pacific (By Product and By Material)

      4. 5.3.4 Middle East and Africa

        1. 5.3.4.1 GCC (By Product and By Material)

        2. 5.3.4.2 South Africa (By Product and By Material)

        3. 5.3.4.3 Rest of Middle East and Africa (By Product and By Material)

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil (By Product and By Material)

        2. 5.3.5.2 Argentina (By Product and By Material)

        3. 5.3.5.3 Rest of South America (By Product and By Material)

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories

      2. 6.1.2 Biotronik SE & Co. KG

      3. 6.1.3 Boston Scientific Corporation

      4. 6.1.4 Cardinal Health, Inc.

      5. 6.1.5 Conmed Corporation

      6. 6.1.6 Globus Medical, Inc.

      7. 6.1.7 Integra Lifesciences Holdings Corporation

      8. 6.1.8 Johnson & Johnson

      9. 6.1.9 Smith & Nephew PLC

      10. 6.1.10 Stryker Corporation

      11. 6.1.11 Zimmer Biomet

      12. 6.1.12 Straumann AG

      13. 6.1.13 Dentsply Sirona

      14. 6.1.14 Osstem Implant Co. Ltd

      15. 6.1.15 Henry Schein Inc.

      16. 6.1.16 Integra LifeSciences Holding Corporation

      17. 6.1.17 Abbvie Inc. (Allergan PLC)

      18. 6.1.18 Ivoclar Vivadent Inc.

      19. 6.1.19 GC Aesthetics

      20. 6.1.20 3M Company

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Global Medical Implants Market market is studied from 2018 - 2026.

The Global Medical Implants Market is growing at a CAGR of 6.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Boston Scientific Corporation, Smith & Nephew PLC, Stryker Corporation, Zimmer Biomet, CONMED Corporation are the major companies operating in Global Medical Implants Market.

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